Issue - meetings

Following amendments introduced by the Local Government Pension Scheme (Miscellaneous) regulations 2012, the Council is required to publish its policy on the discretion to re-instate a suspended tier 3 ill health retirement pension on application from a member on or after age 55 and before age 60.In addition, where this discretion is exercised in favour of a scheme member, the Council has a further discretion to waive any actuarial reduction that might otherwise be applied to the benefits. The Committee will consider a report on these matters and be asked to agree the necessary amendments to the Council’s Pensions Policy statement.

The Committee was asked to approve an update to the Council’s policy on the discretion to re-instate a suspended Tier 3 ill health retirement pension, on application from a member on or after age 55 and before 60. This was in line with amendments introduced by the Local Government Pension Scheme (Miscellaneous) Regulations 2010.

RESOLVED

i)             That item 3 of the Council’s Policy Statement is amended to allow reinstatement of a Tier 3 Ill Health retirement pension only if the case can be considered on ‘Compassionate Grounds’ as defined in paragraph 5 of the Policy Statement Document appended to the report or otherwise where there is no financial disadvantage to the Council in doing so.

ii)            Each case will be considered on its merits and will be subject to approval by the Section 151 Officer acting under delegated powers.

The Chair informed the Committee that it had been announced by Government that newly-elected Members would no longer be eligible to join the Pension Fund, and that from 2014 existing elected Members would be unable to make further contributions. Each party would discuss this further within their political groups.